Tesco Rebuts Criticism of Its Loyalty-Card Arrangement, FT Says

Richard Brasher, who becomes Tesco Plc’s chief executive officer of U.K. operations in March, dismissed suggestions by some analysts that the company’s loyalty-card arrangement is inflating sales, the Financial Times reported.

Eighteen months ago, the supermarket chain doubled rewards under the arrangement; Brasher said the company is “very comfortable” with the way it accounts for that, the newspaper reported.

To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge in London at ckeatinge@bloomberg.net.

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